The Rise of Digital Assets in Estate Planning: Securing Your Crypto, NFTs, and More

In today’s increasingly digital world, our assets are no longer confined to physical items or traditional bank accounts. Many of us now own digital assets like cryptocurrency, non-fungible tokens (NFTs), online accounts, and digital photos—and they’re just as valuable as traditional assets. However, incorporating these into your estate plan requires a unique approach.

What Are Digital Assets?

Digital assets include:

● Cryptocurrency: Bitcoin, Ethereum, and other digital currencies.

● NFTs: Unique digital items such as artwork, music, or collectibles.

● Online Accounts: Social media profiles, email accounts, and cloud storage.

● Intellectual Property: E-books, blogs, or online courses you’ve created.

Challenges in Estate Planning for Digital Assets

Unlike physical assets, digital assets often require specific credentials for access, and without proper planning, your heirs could face challenges recovering them. Additionally, digital assets are often subject to unique terms of service agreements and varying laws, depending on the

platform.

Steps to Secure Your Digital Assets

1. Create an Inventory: Document all your digital assets, including login credentials and

recovery information.

2. Name a Digital Executor: Appoint someone knowledgeable about digital assets to

manage them after your passing.

3. Incorporate Digital Assets Into Your Estate Plan: Work with an attorney to ensure

your will or trust specifies how these assets should be handled.

4. Use Secure Storage Solutions: Store credentials in a secure location, such as a

password manager or safety deposit box.

At The Smith Law Firm, we understand the importance of safeguarding your digital legacy. Contact us today to learn how we can help you create a comprehensive estate plan that includes your digital assets.